RWC Asset Management LLP Invests $16.75 Million in First Solar, Inc. (NASDAQ:FSLR)

RWC Asset Management LLP bought a new position in First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, HoldingsChannel reports. The fund bought 95,012 shares of the solar cell manufacturer’s stock, valued at approximately $16,745,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Whalen Wealth Management Inc. grew its holdings in First Solar by 47.0% in the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock worth $856,000 after buying an additional 1,554 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of First Solar by 36.9% during the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock worth $5,350,000 after acquiring an additional 5,780 shares in the last quarter. Paragon Capital Management Inc. purchased a new position in First Solar in the 4th quarter worth about $1,240,000. Robeco Institutional Asset Management B.V. lifted its position in shares of First Solar by 9.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock valued at $104,910,000 after acquiring an additional 49,074 shares in the last quarter. Finally, Golden State Equity Partners grew its holdings in shares of First Solar by 41,342.9% during the fourth quarter. Golden State Equity Partners now owns 2,901 shares of the solar cell manufacturer’s stock valued at $511,000 after buying an additional 2,894 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Stock Down 5.3 %

FSLR stock opened at $155.39 on Monday. First Solar, Inc. has a fifty-two week low of $141.70 and a fifty-two week high of $306.77. The business’s 50 day moving average price is $176.11 and its two-hundred day moving average price is $200.26. The company has a market capitalization of $16.64 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FSLR shares. Robert W. Baird cut their target price on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Evercore ISI decreased their price target on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Susquehanna cut their target price on shares of First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and set a $260.00 price objective (down from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Finally, Janney Montgomery Scott upgraded First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $276.38.

First Solar Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.